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Introducing a New Way to Manage Operational Risk

TPSCO has created a cloud deployed asset integrity visualization model, complete with integrated risk register called RiskPoynt. RiskPoynt uses a barrier model display technique to convey the risk profile of a given site. This concept has been around since the early 90s, and creates a clear representation of how performance standards are preventing a major accident from occurring and/or helping to mitigate a major incident. 

Ask any business leader today what they appreciate greatly and many will mention the word “truth” or “transparency.” In regards to the state of their business operations, that means a single source of undeniable, factually accurate, non-manipulated truth. Introduce into that same conversation safety, reputation, financial stewardship, environment or production milestones and truth becomes harder to locate. Spreadsheet data, Word document reports, pivot tables, KPI tallies; they see it all.  Ultimately, though, they usually call someone because the simplest business intelligence (BI) tool on the planet still remains the telephone.

Developers of business intelligence content are keenly aware of the need to sanitize information as it moves upward in an organization. However, misinterpretation can be introduced during the transition into a summary view. We often hear about lies and statistics. So there is a skill to providing a single source of detailed information and at the same time articulating corporate objectives in summary form.  With this in mind, we developed RiskPoynt that utilizes the barrier model display technique.

In the model, each performance standard relates to one of a set of barriers to the occurrence of a major incident, and each barrier can have many standards relating to it. For example, the standard for a sprinkler system will relate back to the Protection Systems barrier. If regular inspections of safety critical sprinkler system assets are overdue or an operational risk assessment has been raised, the related barrier’s effectiveness will degrade and the potential for an accident will increase. The visual representation on that day, for that site and in that area will be highlighted by a barrier color change (Red, Amber or Green) depending on the severity and likelihood.

There are currently 9 barriers on the dashboard ranging from Structural Integrity, normally shown on the left, to Emergency Response, normally shown on the right. The traffic light color sequence promotes simplicity for interpretation, allowing the content to be viewed by senior management at a summary level, while also providing drill-down capabilities to the source transaction(s). This enables the same dashboard to be used by Health and Safety regulators, operations in daily meetings, maintenance teams and technical authorities who are responsible for the actions. The current design includes (but is not limited to) a subset of fundamental measures on process safety, operational risk assessment, human factors and Safety Critical overdue work derived from asset and work systems. It helps establish a level of control and transparency over a complex, asset intensive organization.

As more accountability moves into the workspace and regulatory demands increase, and operational uptime is imperative, RiskPoynt facilities the drive to provide transparency and actionable intelligence, enabling strong leadership decisions based on fact and not hearsay.

Michael Mostert
Mike balances cross functional team management, with technical delivery, and key account business development responsibilities. With over 20 years of commercial software experience, Michael Mostert has delivered software and services to a global community of oil & gas, mining, utilities, manufacturing and transportation industries. Specializing in enterprise asset maintenance, Michael utilizes domain knowledge with technical, analytical, and process consulting skills to develop business intelligence visualization that is integrated with, and helps align the enterprise. Before joining TPSCO Michael worked for Mincom Pty Ltd developing mine visualization software, and prior to this, spent 9 years with Indus International (now Ventyx) as a senior technical analyst working directly with clients throughout the Asia Pacific region. Michael started his career as a technical analyst for an Australian software firm developing Pick/Unidata accounting solutions.